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Interview Patty

The Seven Worst Mistakes Women Make in Business

How to Avoid Costly Mistakes

1. Buying into Your Socialization - The “nice girl” attitude you may have learned growing up doesn’t work in business, and customers and clients may have a tendency to doubt your abilities or, worse yet, try to take advantage of you. It’s important to identify and be clear about your business goals in order to successfully achieve what you want.

You need to focus on and play the specific business game you are engaged in, understand the rules, and then keep it fresh by playing at the edge of the bounds. That’s where most games are won.
2. Lacking Confidence - Show a lack of confidence in yourself and your abilities and you may be passed up for profitable opportunities. Women who minimize their accomplishments, constantly apologize, and remain silent in meetings or presentations are going to fail. A lack of confidence, even if you are competent, is like a time bomb and will eventually sabotage your business career.
3. Having a Poor Professional Image - A poor professional image can ruin a woman’s business reputation. Your professional image is your identity in the business world. Colleagues, customers, and clients often decide whether to work with you based on their first image or impression of you. Because of this, first impressions can give you a competitive edge or cut you out of the game.
4. Trusting Customers to Pay Their Bills - Trusting people to pay their bills can be a huge mistake. Be sure you know with whom you are doing business. Check them out, and get their D&B credit rating. Never let your customers get too far behind on their payments, even if you are certain they can pay later. When you do suffer a business loss, sometimes it’s best to walk away instead of spending a lot of money on lawyers, just to be told you don’t have the resources to win the case. Women need to recognize their limitations and options and make the best possible choices.
5. Displaying Negative Emotions - Displaying anger, being rude or egotistical, whining, complaining, and crying will lose you customers. Don’t cuss in person, on the phone, or in correspondence, even if your colleagues do. Chances are you will eventually be labeled foul-mouthed. Yelling at or arguing with your customers and associates will label you a hothead or a problem, and you will alienate them. If you only think about yourself or are openly rude, people will run, not walk, in the other direction, and you will pay a heavy price.
6. Failing to Delegate - You need to delegate or you will never expand your business. Identify who can do the job the best for you. Ask, don’t tell, people to do something. Be firm and develop a cooperative working effort. In this way, you not only better manage your work, you also empower the people who work for you so they can excel.
7. Not Investing in Yourself - Not investing in yourself is counterproductive. If you are serious about your value, you will commit a certain amount of money and time to invest in your future. If you don’t, you will never find out what you are truly capable of achieving. Pay yourself a good wage and a few well-earned bonuses, and carry adequate insurance to protect you and your business.

Read the full article at: http://www.allbusiness.com/company-activities-management/company-structures-ownership/7587392-1.html

Patty Block, President and Founder of The Block Group, established her company to advocate for women-owned businesses, helping them position their companies for strategic growth. Charting the course for impactful, sustainable, profitable businesses, the beacon is control: of your strategic direction, your money, your time, your staffing, and your ability to bring in business. The Block Group brings together the people, resources and ideas that build results.

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Business consulting for women entrepreneurs in Houston.

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